Southern Missouri ( (SMBC) ) has realeased its Q1 earnings. Here is a breakdown of the information Southern Missouri presented to its investors.
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Southern Missouri Bancorp, Inc. is a financial institution primarily engaged in banking services, operating as the parent company of Southern Bank, and is listed on NASDAQ under the symbol SMBC. The company is focused on providing a range of banking and financial services, with a notable presence in the banking sector.
Southern Missouri Bancorp has released its preliminary earnings report for the first quarter of fiscal 2025, revealing a net income of $12.5 million. This reflects a decrease of 5.3% compared to the same period in the previous year. The decline was attributed mainly to higher provisions for credit losses and increased non-interest expenses, partially offset by a rise in net interest income.
Key financial metrics from the report highlight that diluted earnings per share stood at $1.10, a decrease from the prior year’s $1.16. The company saw a 3.6% increase in net interest income, coupled with a 3.0% growth in gross loan balances. However, non-interest expenses rose by 9.0%, driven by higher compensation costs and professional fees due to a one-time performance improvement project.
Southern Missouri Bancorp also reported an increase in deposit balances by 2.5% during the quarter, with the tangible book value per share rising by 15.5% over the past year. Despite the challenges, the company declared a quarterly dividend of $0.23 per share, continuing its long-standing tradition of rewarding shareholders.
Looking ahead, Southern Missouri’s management remains committed to enhancing operational efficiencies and maximizing shareholder value, although it acknowledges potential uncertainties due to economic conditions and regulatory changes. The company’s strategic focus on improving its financial performance and expanding its portfolio positions it to navigate the challenges of the current financial landscape.
